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Teamsters pension cut
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<blockquote data-quote="35years" data-source="post: 2703121" data-attributes="member: 60822"><p>Nope,</p><p>It was a smart move when they bought out of Central States pension fund.</p><p>But now the pension laws have changed and UPS can just let the pensions go into the red zone so they have to make cuts to the beneficiaries. A buy out no longer makes sense financially for UPS.</p><p></p><p>The fat cats who administer the funds (and who have crippled them) will get their exorbitant salaries whether or not the funds are hurting. It is in their interest to just prolong the demise so they are retired by the time the fund is belly up.</p></blockquote><p></p>
[QUOTE="35years, post: 2703121, member: 60822"] Nope, It was a smart move when they bought out of Central States pension fund. But now the pension laws have changed and UPS can just let the pensions go into the red zone so they have to make cuts to the beneficiaries. A buy out no longer makes sense financially for UPS. The fat cats who administer the funds (and who have crippled them) will get their exorbitant salaries whether or not the funds are hurting. It is in their interest to just prolong the demise so they are retired by the time the fund is belly up. [/QUOTE]
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